Commodity market report
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Global macro oils short-term outlook: early August 2016

Global macro oils short-term outlook: early August 2016

Report summary

The early August Macro Oils Monthly report shows that oil prices weakened in July as the global oil industry was pressed to absorb another implied stock build for Q3 2016. We expect some recovery during Q4 2016 to move just above $50 per barrel.

The new monthly report on the short term oil market presents our forecast for Brent, WTI, LLS and Dubai; oil demand and supply in slide pack format with a related data download.

What's included?

This report includes 3 file(s)

  • Global macro oil short term outlook early August 2016.pdf PDF - 2.23 MB
  • 3 August 2016 data.xls XLS - 974.00 KB
  • 3 August 2016 prices.xls XLS - 270.00 KB


The oil industry is one of the largest in the world, with high revenues and costs, and major investments that have long lead times. The short-term outlook captures key industry developments, the impact of events and geopolitical influences on oil prices.

This Oil Markets Short Term Outlook report provides detailed fundamentals of supply and demand.

Crude oil investors can use this report to make short-term tactical decisions and assess the behaviour of industry players and governments.

Wood Mackenzie gives you an informed, independent view on oil prices and the key drivers and trends impacting the oil market. Our highly experienced analysts are based in the key oil producing and consuming regions they analyse, providing detailed field-by-field data and demand forecasts driven by country and sector developments.

Our trusted insight helps you deliver successful growth strategies.

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Why Wood Mackenzie?

Wood Mackenzie, a Verisk Analytics business, has been a trusted source of commercial intelligence for the world's natural resources sector for more than 40 years, empowering clients to make better strategic decisions with objective analysis and advice.

We work across every sector of oil, gas, power, renewables, chemicals, metals and mining, covering more than 150 countries. Our proprietary data and models are at the core of everything we do, ensuring our independent asset and company valuations are thoroughly robust and that we offer an accurate forward-looking view of economic indicators such as market supply, demand and price trends.

Our 500+ analysts are based in the regions they cover, cultivating an unrivalled depth of understanding to help clients accurately identify new opportunities, define their strategy and improve business performance.

At every stage, our teams readily collaborate and share their insight to provide an integrated perspective across entire industries. It is this unique and rigorous analytical approach that ensures we are recognised as the industry standard by the world’s most innovative organisations.